Avacta Group PLC · LSE:AVCT
Avacta — Investor Day (February 2018)
41 slides from Avacta's investor day presentation, Feb 7, 2018
Slide 1: Capital Markets Day: The Affimer Platform
Capital Markets Day February 7th, 2018 The Affimer Platform Enormous potential, significant milestones achieved and momentum building strongly © Avacta Group plc 1
Slide 2: Disclaimer: Important Notice
Disclaimer: Important Notice No representation or warranty, expressed or implied, is made or given by or on behalf of Avacta Group plc (the “Company” and, together with its subsidiaries and subsidiary undertakings, the “Group”) or any of its directors or any other person as to the accuracy, complete
Slide 3: Highly Experienced Senior Team
Highly Experienced Senior Team Dr Alastair Smith, CEO Dr Matt Johnson, CTO Tony Gardiner, CFO • Over 10 years experience • Genetics & Microbiology • Over 20 years senior financial as a public company CEO Molecular Biology and operational experience • A leading UK biophysicist • 8 years at Abcam acro
Slide 4: Agenda
Agenda • Affimer Opportunity Alastair Smith, CEO • Strategy and Focus • Progress Against 2015 Objectives • Recent Highlights and Case Studies Senior Management Team • Milestones 2018-2021 • Key Messages • Q&A • Drinks and discussion © Avacta Group plc 4
Slide 5: Key Messages
Key Messages Enormous potential, significant milestones achieved and momentum building strongly • Avacta is a pre-clinical biotech with proprietary Affimer® technology offering significant technical and commercial benefits over antibodies. • The Affimer platform addresses markets worth in excess of
Slide 6: The Affimer Opportunity
The Affimer Opportunity
Slide 7: Our Mission
Our Mission “Our mission is to shape the future of medicine by developing safe and efficacious drugs based on our proprietary Affimer® platform and by providing powerful reagents for research and diagnostics.” Powerful AFFIMER Improved diagnostics Best-in-class and novel research tools powered by AF
Slide 8: Affimer: The Next-Generation Alternative to Antibodies
Affimer®: The Next-Generation Alternative to Antibodies • Antibodies can be used as drugs and for diagnostics because they can capture or block specific targets. Target • Antibodies have captured markets worth in excess of $100bn despite having significant limitations. • Antibodies are large, comple
Slide 9: Affimer: A Proprietary Alternative to Antibodies with Technical and Commercial Benefits
Affimer®: A Proprietary Alternative to Antibodies with Technical and Commercial Benefits What is an Affimer? Key Benefits • Based on a naturally occurring protein and • Unencumbered IP. Commercial engineered to behave like an antibody. • Freedom to operate where there is antibody IPR. • Its binding
Slide 10: Large Life Sciences Markets Dominated by Antibodies Despite Their Limitations
Large Life Sciences Markets Dominated by Antibodies Despite Their Limitations Reagents Therapeutics Research Diagnostics $2bn $11bn $75bn+ • Lab test kits, purification • Lab diagnostics and rapid • Very high valuations of therapeutic systems, biosensors etc. testing. assets. • Minimal barriers to e
Slide 11: Momentum Building Strongly
Momentum Building Strongly Organic Web Site Traffic 2017 2016 2015 2014 Ten independent, peer reviewed articles in 2017 0 10000 20000 30000 40000 Custom Affimer Order Book 800 600 £k 400 200 0 © Avacta Group plc 11
Slide 12: Clinical Stage Protein Therapeutic Platforms Are Highly Valued
Clinical Stage Protein Therapeutic Platforms Are Highly Valued: Avacta Targeting Phase 1 in 2020 SWX: MOLN NASDAQ: PIRS EBR: ABLX NASDAQ: ABLX AIM: AVCT $607m $346m $3bn $63m DARPins Anticalins Camelid “Nanobody” Several assets in phase 1/2/3 3 assets in Multiple assets in phase 1/2/3 and Multiple p
Slide 13: Strategy and Focus
Strategy and Focus
Slide 14: Licensing Strategy in Life Science Markets
Licensing Strategy in Life Science Markets Reagents Therapeutics Research Diagnostics In-house Partnered Building a recurring revenue stream through licensing Building a pipeline of Affimer drug candidates in reagents to research tools and diagnostics developers immuno-oncology in house development
Slide 15: Reagents: Focus on Applications in which Affimers Provide Benefits
Reagents: Focus on Applications in which Affimers Provide Technical and Commercial Benefits Reagents Research Diagnostics Affinity Separation Immunoassays Diagnostics Future applications: Lab scale and bio- Lab kits and diagnostics Point-of-care rapid - Immunohistochemistry processing $500m for rese
Slide 16: Therapeutics: Focus on Key Technical Benefits for Immuno-oncology
Therapeutics: Focus on Key Technical Benefits of Affimers for Immuno-oncology Therapeutics In-house Partnered Immuno-oncology/ oncology • Immune-checkpoint inhibitors • Gene delivery (Moderna Tx Inc, FIT (combinations, bispecifics, Biotech, Oncosec) biparatopics) • Drug conjugates (Glythera) • Agoni
Slide 17: Progress Against 2015 Objectives
Progress Against 2015 Objectives
Slide 18: Excellent Progress Against 2015 Objectives
Excellent Progress Against 2015 Objectives Reagents Therapeutics Research Diagnostics In-house Partnered 1) Develop the first Affimer therapeutic candidate for clinical development. ✓ 2) Build a pipeline of therapeutic Affimers and enabling Affimer platform technologies for licensing or future in-ho
Slide 19: 1) Develop the First Affimer Candidate to the Clinic
1) Develop the First Affimer Candidate to the Clinic On target to be in the clinic with a PD-L1 antagonist in 2020 Why? Progress • Clinical data (safety and tolerability): ü >50 PD-L1 antagonists generated and • de-risks the platform for partners, characterised • increases the value and scope of dea
Slide 20: 2) Secure Further Affimer Partnering Deals
2) Secure Further Affimer Partnering Deals Research partnerships established, multiple larger opportunities in the pipeline What? Progress - Data Progress - Partnerships • Securing partnering deals requires data: • De-risking the platform for partners ü Multimeric formats ü High expression yields •
Slide 21: 2) Secure Further Affimer Partnering Deals
2) Secure Further Affimer Partnering Deals Research partnerships established, multiple larger opportunities in the pipeline What? Oncosec – DNA gene delivery of Affimers using What? FIT Biotech – DNA gene delivery of Affimers Oncosec’s proprietary electroporation system. using FIT’s novel DNA techno
Slide 22: 2) Secure Further Affimer Partnering Deals
2) Secure Further Affimer Partnering Deals Research partnerships established, multiple larger opportunities in the pipeline What? Affimer drug conjugate (AfDC) development What? Phenotypic drug target and drug discovery partnership for undisclosed target. license. Why? Positive PoC data has led to a
Slide 23: Moderna Partnership Update
Moderna Partnership Update What? Research collaboration with commercial Next? Multiple targets in lead characterisation phase. terms agreed for development of Affimer drugs delivered by Moderna’s mRNA technology. Avacta has succeeded in generating binders to all nominated targets. Why? Avacta benefi
Slide 24: Example Deals in Immuno-oncology
Example Deals in Immuno-oncology Over $10bn license/M&A deals done 2015-16 and many of these were for pre-clinical assets (Apr 2016) $685m with (Jan 2017) $31 m upfront and up (May 2017) up to $115m $40m upfront in deal for to $338 m in success-based upfront and success- ARG-115X asset payments for
Slide 25: 3) Build a Therapeutic Affimer Pipeline
3) Build a Therapeutic Affimer Pipeline More than ten programmes underway generating Affimer lead molecules Why? Progress • Building value through creation of drug • 10 in-house programmes initiated including: candidates for: ü PD-L1, LAG3 – lead molecules in • pre-clinical licensing, development. •
Slide 26: 3) Build an In-house Therapeutic Affimer Pipeline
3) Build an In-house Therapeutic Affimer Pipeline More than ten programmes underway generating Affimer lead molecules Lead Programme Target Discovery Pre-clinical Phase 1 Optimisation Antagonists AVA-004 PD-L1 Antagonist IND filing 2019 AVA-017 LAG-3 Antagonist First programme to AVA-003 HSA Half-li
Slide 27: 3) Partnered Pipeline
3) Partnered Pipeline Multiple partnered programmes with high potential for monetisation Partner Discovery Lead Optimisation Pre-clinical Clinical £ £ (Multiple undisclosed IO targets) PoC Data expected Q2 2018 (PD-L1) AVA-004 (PD-L1) ImmunoPulse IL-12 Memorial Sloane Kettering AVA-008 CD19 CAR-T Th
Slide 28: 4) Custom Affimer Business: Business Model
4) Custom Affimer Business: Business Model Licensing business model; early revenues from evaluations and supply deals Reagents Licensing for Royalties and Commercial Product Supply License Affimer Generation Development Arrangements Customer (9-12 weeks) Evaluation £25-50k • Focus on longer term roy
Slide 29: 4) Custom Affimer Business: Progress
4) Custom Affimer Business: Progress Strong growth in custom Affimer services pipeline number and quality of customers WORK-IN-PROGRESS AND SALES PIPELINE BY Custom Affimer Order Book SECTOR 800 Other Pharma - Tx 600 24% 22% £k 400 Separations 200 5% >40 projects Pharma - Rx 18% 0 Rx Reagents Diagno
Slide 30: 4) Custom Affimer Business: Valuation
4) Custom Affimer Business: Valuation Valuation of the Affimer reagents business underpins current market capitalisation Reagents Research Diagnostics Typical Licensing Terms and Potential Value1 Typical Licensing Terms and Potential Value1 Deal Size Market Prod. Dev. Royalty Sales Deal Size Market
Slide 31: Progress Summary
Progress Summary 1) Develop the first Affimer therapeutic candidate • Significant de-risking of platform. for clinical development. • Multiple PD-L1 assets in development. • On target for first-in-man in 2020. 2) Build a pipeline of therapeutic Affimers and • 10 discovery programmes initiated. enabl
Slide 32: Highlights and Case Studies
Highlights and Case Studies
Slide 33: Covance: Anti-idiotypic Binders
Covance: Anti-idiotypic Binders Affimers providing critical reagents for drug development and batch release testing What Was The Problem? How Did We Solve It? What Is The Future Value? • Monoclonal antibody drug • We developed a turnkey solution • Approximately 2,000 new development programmes that
Slide 34: Affinity Purification of Intact Fabs
Affinity Purification of Intact Fabs Affimers that purify properly folded antibody products What Was The Problem? How Did We Solve It? What Is The Future Value? • Existing commercial solutions for • We developed an Affimer that • License Affimer to a major the purification of antibody binds the “Fab
Slide 35: Affimer XT: A Proprietary Licensable Platform
Affimer XT™: A Proprietary Licensable Platform A proprietary Affimer technology for controlling serum half-life of drugs What Was The Problem? How Did We Solve It? What Is The Future Value? • Rapid clearance of a drug from the • We created a range of Affimers that bind • Affimer XT™ can be used to e
Slide 36: Milestones 2018-2021
Milestones 2018-2021
Slide 37: High Level Objectives 2018-21
High Level Objectives 2018-21 Clinical stage biotech and a profitable reagents business Reagents Therapeutics Research Diagnostics In-house Partnered Recurring Revenue from Reagents Clinical Stage Biotech Company • Recurring revenue stream established from • Multiple in-house pre-clinical and clinic
Slide 38: Illustrative Revenue Growth 2018-2022
Illustrative Revenue Growth 2018-2022 1 2 3 Reagents Therapeutics Research Diagnostics In-house Partnered 33) Therapeutic Deals • Potential for substantial upfront payment from therapeutics licensing deals with positive clinical data for Affimer platform. First-in-man Revenue Clinical Data 22) Licen
Slide 39: Indicative Milestones 2018-21
Indicative Milestones 2018-21 Clinical stage biotech and a profitable reagents business Reagents Therapeutics Research Diagnostics In-house Partnered 2018 2018 • Up to 5 license deals. • Pre-clinical biology packages (PD-L1). • First supply deal revenue. • Oncosec PoC data. • FIT Biotech PoC data. 2
Slide 40: Summary
Summary Enormous potential, significant milestones achieved and momentum building strongly • Avacta is a pre-clinical biotech with proprietary Affimer® technology offering significant technical and commercial benefits over antibodies. • The Affimer platform addresses markets worth in excess of $100b
Slide 41: Advisor and PR contacts
Please also download the company presentation given at the recent JP Morgan conference at https://www.avacta.com/investors/documents finnCap Ltd (Broker and Nomad) Yellow Jersey PR Geoff Nash / Giles Rolls – Nominated Advisors Sarah Hollins / Katie Bairsto Tim Redfern / Alice Lane – Corporate Brokin